Frank McCourt sells Wellington property near Bill Gates for $12M

Property is only a three-minute walk from Gates' roughly 20-acre assemblage

Jun.June 28, 2017 10:30 AM

13700 Quarter Horse Trail and Frank McCourt

Billionaire Frank McCourt has parted ways with a 9-acre equestrian property in Wellington, near fellow billionaire Bill Gates.

Property records show McCourt’s Wellington Property Company LLC sold the 9.15-acre site at 13700 Quarter Horse Trail to New Haven, Connecticut-based Elite Equestrian Estates LLC. No financing was recorded.

McCourt, former owner of the L.A. Dodgers and president of Boston-based McCourt Group, put the property on the market with Maria Mendelsohn of Douglas Elliman in October for $14 million.

Carol Sollak of Engel & Volkers Wellington represented the buyer, according to Redfin.

It last sold for $8 million in 2013.

The Wellington property is only a three-minute walk from Gates’ roughly 20-acre assemblage on Mallet Hill Court, which he spent more than $38 million acquiring over three years.

McCourt, meanwhile, is no stranger to South Florida. A trust tied to the developer paid $77 million for an oceanfront estate in Palm Beach in April. He also paid $20 million for a 40-acre horse farm in August, after selling a smaller property nearby for $12 million.

In Miami, McCourt is co-developing The Towers by Foster + Partners along with Florida East Coast Realty and Corigin Real Estate Group, a pair of connected skyscrapers planned for Brickell.

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